Official Unsecured Creditor Committee
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Implications of the UCC tweet on the recent closure of Signature Bank
On March 13, the official unsecured creditor committee (UCC) of Celsius tweeted: “Today, the US government announced the closure of Signature Bank, and part of the funds held by Celsius are in Signature Bank. According to the US government, all depositors will receive full compensation. Celsius and UCC are assessing the situation and will provide further updates.” Creditors of Celsius: Some funds of Celsius are deposited in Signature Bank Analysis based on this information:The recent announcement by the US government of the closure of Signature Bank has caught the attention of the official unsecured creditor committee (UCC) of Celsius, which tweeted on March 13, 2021, stating that some of the funds held by Celsius are in Signature Bank. This message has sparked different interpretations from members of the online community, as it implies that Celsius may have been impacted by the closure of Signature Bank, which raises concerns about the safety and security of funds for the company’s depositors. A…
